Death By A Thousand Cuts

The Chinese are going to launch their own version of the COMEX in Hong Kong May 18th. The Hong Kong Merchantile Exchange will start trading it a 32 ounce gold contract. They will no doubt expand this single offering to include silver in the near future. This new market will help break the Anglo American empire monopoly of gold trade in New York and the City of London and allow more liquidity for traders. This will not be a huge event and one that probably won’t be felt in the gold trading community for a while. It is without a doubt, another cut in the under belly of the Anglo American empire.

This new market reminds me of when the Iranians cracked the back of the Petro Dollar by opening the Iranian Oil Bourse on the island of Kish in 2008. This bourse was the first major market outside of the control of the Anglo American empire that allowed settlement for oil in almost every other major currency, other than the dollar. For those of you that do not know how important the petro dollar trade is to our way of life, let me give you a brief recap. When Nixon drank the Keyensian kool aide and took the dollar off of the gold standard, the Elite needed to back the dollar with something. They schemed with the Arabs to have two massive oil shocks that would raise the price of oil dramatically and in turn the Arabs agreed to recycle those petro dollars back into the American economy. I bet you always wondered why the Arabs wanted to squeeze America but then turned aroud and invested all of their proceeds into America? Well, now you know why. In return the American Empire protects the tyrannical Arab families and when necessary take out any threats to that order.

Saddam Hussein got in trouble when he very wisely sold oil for Euros in the UN oil for food scandal. When he would not stop, the Marines went in.